The new Consumer Financial Protection Bureau is encouraging Americans to contact it through the agency’s Facebook page, YouTube channel and Flickr account. And on Twitter, the CFPB is already herding a conversation with consumers around its plan for a simple one-page mortgage summary, using the hashtag #KnowBeforeYouOwe.
But as the CFPB’s online strategy blazes new trails, it comes with significantly less sexy bureaucratic responsibilities such as how to protect and manage personal identifiable information that often accompanies consumers’ use of social media.
The agency recently launched the process to build a records system to manage all the information it gathers from its Twitter followers and Facebook friends. The CFPB Social Networks and Citizen Engagement System will store each consumer complaint or suggestion along with a consumer’s IP address, geographic location, birth date, business affiliation and other demographic information. The records may be disclosed, the CFPB said, if needed by Congressional offices, agency contractors, law enforcement authorities, or as part of court litigation.
A CFPB spokeswoman declined to comment.
"The use of social media will enable the [bureau] to interact with the public in effective and meaningful ways, encourage the wide sharing of consumer financial information and the strengthening of an online community of consumers, and ensure that critical information about the agency and key consumer finance issues is distributed," the CFPB said in the recent Federal Register notice.
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Source: iwatchnews.org
By: Amy Biegelsen
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